New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-03-12
7HB BALTIMORE AND OHIO OPTION.
WILL THE NEGOTIATIONS BE RENEwEDi

WHAT rs THOUGHT IN WALL srREEr-MR. sULLY
SAYS LITTLE-RUMoRs OF THE DAY.
The failure Of the option for control of the BaIt.
mor' and Ohio Railroad not remodied yesterday.
Tho extension asked Thursday when the priv
lego expired BY tho non-payrcnt of tho first install
mont OF 81 ,OOO, 600 was neither granted nor abso-
lutey denied II is understood that Alfred Suy, who
secured the cOntraos from President Garrett ex-
changed good many teleyraphio messages with
Baltimore in tho course Of the day, but they ap
parently without substantial results Mr. Sully said
late In the afternoon,
have said little this subject and cannot add
much to that little now. Nothing whatever has been
done to-day, but hope that In tho course of two
months the matter will be more clearly understood
than 1t is at present cannot say more"
IL was reported In Wall Street that Mr.. Suly had
been trying to secure the necessary money from
many diverse sources but had failed to receive sub
stant'al encouragement Among the many rumOrs
that were circulated In the Street was one early In
day that the Pennsylysnis Railroad had taken the
agreement Of Dir. Sully's hands, and this was fol-
lowed promptly by another that the First National
Bank had consented TO advance tho money for tho
purchase OF the stock. President Baker and Woe
President Fahnestook Of the bank denied in explicit
language that there any foundation for the
rumors connecting them nth the scheme.
"Ordinsry business prudence they said, "would
require an expert examination OF tho property In o
bargain OF so greaf magnitude, II In tho
business OF buying railroads. In point OF fact, We
A director In tho Western Union Telegraph. to
whom share in the scheme offered. remarked
that the present failure might torn basis for new
deal 9TH" weakness of the Baltimore and Ohio
Company Is confessed said he, and predict that
the SALE when 1t takes place. will DO at much lower
price than tho 6gure recently mentioned. The talk
has exposed the fact that tho floating debt OF the Bal
timors aud Ohio Company is much larger than
supposed aud l know that some lenders have taken
steps to reduce their loans In consequence OF the
elations You SEQ, bankers do not always know what
their n.ghbors are doing and they may think
times that they lending all the money the creditor
L. owing
twas q common opinion indeed that negotiations
would be started anew within short time firm
basis. IL was rumored that the option might be
Moved II it was not extended and that the control Of
the company would soon pass out OF Mr. CARROTS
hands. good many buyers were suggested As pos
sibe under circumstances that might easily result
from the recent agitation. Their purposes would be
IN general way to benefit other railroad and tele-
graph interests which affected moro or less
seriously by the opposition OF the Baltimore and Ohio
svstem. The terms ~hch such transfer Of the
control might be made not settled yesterday aud
Tar could be ascertaned they would require long
and careful consideration. IL was not even known
positively that Nr Garrett would BIO willing to accept
terms that might be proposed in this way.